Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Lennox InternationalMIL:1LII 93 Graham Number is €69.24 as of Mar. 2026, which is 100% below its 10-year median of 6.23. GuruFocus rates MIL:1LII with a GF Score™ of 93/100 and a GF Value™ of €501.24. The stock has 3 warning signs investors should review. Among 1,216 Construction companies, Lennox International ranks worse than 96.13% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-21), the stock price of Lennox International is €493.20. Lennox International's graham number for the quarter that ended in Mar. 2026 was €69.24. Therefore, Lennox International's Price to Graham Number ratio for today is 7.12.
The historical rank and industry rank for Lennox International's Graham Number or its related term are showing as below:
MIL:1LII'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 4.62 Med: 6.23 Max: 16.7
Current: 6.65
During the past 13 years, the highest Price to Graham Number ratio of Lennox International was 16.70. The lowest was 4.62. And the median was 6.23.
MIL:1LII's Price-to-Graham-Number is ranked worse than 96.13% of 1216
companies
in the Construction industry
Industry Median: 0.99
vs MIL:1LII: 6.65
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Lennox International (MIL:1LII) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Lennox International's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
493.20
/
69.24
=
7.12
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Lennox International Graham Number Related Terms
Lennox International Graham Number Historical Data
* Premium members only.
The historical data trend for Lennox International's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:1LII vs MAIR, MAS, CSL: Graham Number Comparison
For the Building Products & Equipment subindustry, Lennox International's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lennox International Price-to-Graham-Number vs Construction Industry
For the Construction industry and Industrials sector, Lennox International's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Lennox International's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Lennox International (MIL:1LII) has a Graham Number of €69.24 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Lennox International and its competitors. This is 1011% above median its historical median of 6.23. Over the past decade, Lennox International's Graham Number has ranged from 4.62 to 16.70. According to the industry distribution chart, Lennox International ranks #1169 out of 1216 companies in the Construction industry, placing it in the top 96.1%.
Is Lennox International's Graham Number too high?
Lennox International's current Graham Number of €69.24 is 1011% above median its 10-year median of 6.23. Over the past 10 years, this metric has ranged from a low of 4.62 to a high of 16.70. Based on the distribution chart, Lennox International ranks #1169 out of 1216 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Lennox International has a GF Score™ of 93/100, reflecting its overall financial health beyond just this single metric.
How does Lennox International's Graham Number compare to MAIR and MAS?
According to the Construction industry distribution chart, Lennox International ranks #1169 out of 1216 companies for Graham Number. This places Lennox International in the lower half of its industry. The industry median Graham Number is 0.99. Historically, Lennox International's own Graham Number has ranged from 4.62 to 16.70 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Construction company?
The median Graham Number among Construction companies is 0.99, based on 1,216 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Lennox International and its competitors. For the Construction industry, the median Graham Number is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lennox International's current Graham Number is €69.24, which is 1011% above median its own 10-year median of 6.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lennox International stock overvalued right now?
Lennox International (MIL:1LII) has a current Graham Number of €69.24. The stock's GF Value™ is €501.24, compared to a current price of €493.20 — trading 1.6% below its estimated fair value. The current Graham Number is €69.24, which is 1011% above median its 10-year median of 6.23. Lennox International's overall GF Score™ is 93/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Lennox International (MIL:1LII), the current Graham Number is €69.24 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lennox International (MIL:1LII) Overvalued in 2026?
Based on GuruFocus' analysis, Lennox International stock appears to be undervalued.
The current stock price of €493.20 is trading 1.6% below its estimated GF Value™ of €501.24.
Key valuation signals for MIL:1LII:
Graham Number: €69.24 (1011% above median its 10-year median of 6.23)
GF Value™: €501.24 vs. price of €493.20 (1.6% below fair value)
No single metric tells the full story. See the MIL:1LII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lennox International manufacturers and distributes heating, ventilating, air conditioning, and refrigeration products for the North American replacement (75% of sales) and new construction (25% of sales) markets. Residential HVAC (home comfort solutions) accounts for 67% of sales and commercial HVAC (building climate solutions) accounts for the remaining 33% of sales. Lennox's commercial exposure is what its peers refer to as residential and light commercial, and lacks the scale and complexity of what is referred to as an applied solution. The company goes to market with multiple brands, but Lennox is its flagship HVAC brand.
93GF Score
Get the complete analysis for MIL:1LII
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MIL:1LII has been successfully added to your 
